The present recession is found to be a period of party time for the scammers. With more and more people growing desperate to sell or rent their property, the opportunity for scammers to make money through them is increasing.
The present recession has knocked down the real estate boom in US. People who have bought homes for big amount during boom times are now at a stake of going home poor. There is also one situation out there, which people, who took bank loans to buy homes, find it hard to pay their credit bills as they are no longer in their job.
So they are growing desperate to rent their property because they can’t sell off their property for the current lower rates out there.
This is where the scammers enter with their strategies to bilk the property owners. They are approaching the property owners with decent methods that make them hard to determine between a scammer and a viable renter.
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